Nifty PSU Bank index gains 4%; SBI, BOB, Canara Bank up over 3%

Nifty PSU Bank index had underperformed the market by falling 27% thus far in the calendar year 2018, against 5% decline in the benchmark index till Friday

Shares of public sector banks were in focus with Nifty PSU Bank index gaining almost 4% as compared to 0.54% rise in the Nifty 50 index on Monday at 01:43 pm.

State Bank of India (SBI), Canara Bank, Bank of Baroda, Syndicate Bank, Union Bank of India and Union Bank of India from Nifty PSU Bank index were up more than 3%, while Indian Bank, Punjab National Bank (PNB), Oriental Bank of Commerce and Andhra Bank up in the range of 1% to 3% on the National Stock Exchange (NSE).

Nifty PSU Bank index had underperformed the market